While all the attention seems to be focussed on the Self employed and their National Insurance payments, little or no comment has been made about the effects on investors.
It seems that investors have been caught in the cross fire of the attack on the tax savings available to the self employed.
Thus the £5,000 dividend allowance, which everyone seems to have forgotten, was introduced to make up in some small way for the scrapping of the dividend tax credit last year is being reduced to £2,000 after just a couple of years. Largely because this is how many self employed chose to pay themselves thanks to the tax advantages. Consequently whereas most investors would not have previously been affected by the tax credit change, this will now potentially bring far more investors into the net to pay tax on their dividends.
Thus this highlights the on going benefits of other tax shelters for longer term savings such as SIPP's and ISA's. Thus if you can't afford to make use of the new higher ISA allowance of £20,000 for the next tax year, then it would make sense to sell down in your taxable portfolio and use the proceeds to top up your SIPP or ISA to avoid getting hit by tax on your dividends, if you are not already in that situation.
Meanwhile the small sop to savers in the shape of the 3 year savings bond doesn't look that generous as it will probably hardly keep pace with inflation. Nevertheless I guess it may be competitive with private sector providers and is at least backed by the government.
Any way that's enough of a rant from me you can see more from the BBC here on how the budget might affect you including a helpful table looking at how much extra tax you could be liable for on your dividend, depending on the size of your portfolio and with an assumed 4% yield.